To what extent do you think Adam Smith's analysis reflected the experiences of his own times, and to what extent did they represent universally valid observations ?

The correct answer to this open question is the following.

Although there are no options attached we can say the following.

I think Adam Smith's analysis reflected the experiences of his own times because he detailed observed what was going on in the economic relationships of his time and he had the talent to write a book titled "The Wealth of Nations," where he explained basic principles of the economy that are still valid in today's modern world because they represent universally valid observations that can be seen in many different countries.

Adam Smith is considered the father of modern economics for the ideas expressed in his work "The Wealth of Nations." Many consider him the father of Capitalism for those ideas expressed in 1776. Smith's idea that is more evident in the workings of the American economy is the concept of the free market. In a Capitalist system like the one in the United States, it is the market that controls the supply and demand of products. Another idea reflected in the US economy is the minimum regulation of the economy on the part of the federal government.

question: write a report analyzing through articles of confederation.

answer: the articles of confederation the united states constitution was written when the people feared strong government the new nation needed some kind of organization to hold states together to them fend off future attacks and make a stronger support system through the states and people the states bonded through a friendship that best served as a defense against a invasion and states were not allowed to use taxes as a way to discourage treaties, and states were extremely limited in their dealings with foreign nations the strengths were that the congress has the highest power in the nation because of   fear of monarchy congress had the sole power to declare war and assign treaties disputes between states and territorial issues were to be brought to congress and weaknesses were the lack of power given to congress the articles gave congress the power to pass laws but no power to enforce those laws if a state did not support a federal law that state could simply ignore it congress had no power to levy taxes or regulate trade.

explanation: so like every argument they have strengths and weaknesses but in this case there were more weaknesses but they managed o get through it and make an agreement

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(jacemorris04)

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